Form: 8-K

Current report filing

December 15, 2010

EX-99.1
 
Termination Agreement
 
This termination agreement is agreed by the following three parties and signed on November 19, 2010:
 
 
a)
China Youth Interactive Media (Beijing) Co., Ltd. (hereinafter referred to as "CY Interactive ")
 
 
b)
Youth Media Technology (Hong Kong) Limited (hereinafter referred to as "Youth Media Hong Kong ")
 
 
c)
Youth Net Advertising (Beijing) Co., Ltd. (hereinafter referred to as "Youth Net Advertising")
 
Whereas:
 
 
a)
CY Interactive, Youth Media Hong Kong and Youth Net Advertising have (i) signed a Cooperation Agreement on July 3, 2009, and (ii) based on the execution or implementation of the above agreement and from time to time all oral or written  supplementary agreements and updates (if any) (the foregoing (i) and (ii) collectively, the "Series Agreement ");
 
 
b)
CY Interactive, Youth Media Hong Kong and Youth Net Advertising intend to terminate the Series Agreement.
 
 
Therefore, all of the parties have reached the following consensus:
 
 
1.
The Series Agreement will be terminated on the signing date of this Agreement.
 
 
2.
As to the Series Agreement, any party to this Termination Agreement is not responsible for any obligations, debt or liabilities to any other parties and is not liable or entitled to any claim.
 
China Youth Interactive Media (Beijing) Co., Ltd.
 
Youth Net Advertising (Beijing) Co., Ltd.
 
Youth Media Technology (Hong Kong) Limited